The implosion of cryptocurrency platform FTX and its increasingly infamous founder Sam Bankman-Fried is the subject of a new documentary from premium nonfiction studio XTR.
The company behind docs including “They Call Me Magic,” “Meet Me in the Bathroom” and the Emmy and Peabody award-winning “76 Days” is already in production on the untitled FTX feature. Oscar nominee and Emmy winner David Darg (“Body Team 12,” “You Cannot Kill David Arquette”) is directing and presently on the ground in the Bahamas, where FTX is headquartered and where Bankman-Fried is currently being questioned by securities officials.
The project touts “unprecedented access to key players at FTX and the cryptocurrency community.” The doc “will explore the corporate drama that upended markets, sparked government investigations and sent shock waves through an industry still battling to gain mainstream credibility,” the filmmakers told Variety.
The international scandal has riveted the entertainment and media sector over the past month, since FTX’s liquidity was called into question. Investors made a run on the platform to the tune of $6 billion, while some $2 billion in customer funds are currently missing. In the past week, the company has declared bankruptcy and Bankman-Fried has stepped down as CEO. Another shoe recently dropped close to Hollywood, as on Tuesday a group of celebrities — including Larry David, Tom Brady, Gisele Bundchen and Stephen Curry — were named in a class action suit for endorsing FTX.
Bryn Mooser, Kathryn Everett and Justin Lacob are executive producing the film for XTR.
“The implosion of FTX is the most sensational financial story since WallStreetBets disrupted the stock market during the pandemic and it exposes major flaws within the cryptocurrency universe,” added Lacob. “With our exclusive access and our team already on the ground, we’re excited to dive deep into this breaking story, which has already ensnared celebrities like Tom Brady. It’s incredibly thrilling to embark on this investigative journey without knowing where the breadcrumbs will lead us.”
In addition to its existing slate, XTR launched Documentary+ in 2021. The service is an AVOD platform and FAST channel that brings nonfiction film and TV to over 85 million households in the US and abroad.